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. nancy cordes, cbs news on capitol hill. >> jeff: the pressure on congress to reach a deal on the fiscal cliff is great. failure would be felt almost immediately in paychecks as taxes go up. and in financial markets as wall street reacts. even though the dow is up nearly 6% for the year if lost 2% this week as the deadline looms. for more on the potential impact of wall street i'm joined by jim awad chairman of plimsoll. let's talk about the fiscal uncertainity is figuring on wall street. >> it is figuring in an increasingly negative way. the markets are become increasingly concerned that business and consumers will pull back due to the uncertainty about tax and spending. and it's affecting the financial markets and the economy. >> jeff: a slow day tomorrow but how do you think we open? >> i think that if there is any rally it will be a fool's rallyment would you only get a rally if they announce something tonight. but the reality is that anything they announce would be light on fact and long on symbolic-- symbolism it wouldn't have a lot to do with entitlements. it wouldn't address the
captioning sponsored by cbs this is the "cbs evening news." >> good evening. jim axelrod is off tonight. i'm rebecca jarvis. with just two days left, senate leaders are still struggling to put together a last minute bp deal ahead of monday's midnight deadline for the fiscal cliff. failure could kick the country back into a recession. wyatt andrews is on capitol hill. >> reporter: today the halls of the senate were almost empty, as proposals got traded in private and over the phone. senate minority leader much mcconnell tried to sound upbeat. going to get a deal today sir? >> hope. so. >> reporter: house speaker boehner came to the capitol but left without comment. issue number one in the talks is amending the bush era tax cuts, which if unchanged will expire and raise taxes on all americans. starting tuesday, the average tax hike will be three to 5% per person. >> let's keep taxes exactly where they are on the first $250,000 of everybody's income. >> reporter: the president campaigned to increase taxes only on families making more than $250,000 per year. almost two weeks ago, th
♪ captioning sponsored by cbs this is the "cbs evening news." >> glor: good evening, everyone, i'm jeff glor. the company that calls itself the world's largest arms supplier says in three days it sold over three years worth of ar-15 ammunition magazines. the company brownell apologized on-line for delays in shipping the orders. the ar-15 is the nation's most popular semiautomatic rifle, similar to the weapon used in the newtown shootings. in washington, meanwhile, the gun control debate ramped up. on "face the nation" bob schieffer spoke with national rifle association president david keane, the first time the toup has spoken since making a statement on friday. >> scheiffer: when you came on television at this news conference friday you seemed to blame the mentally ill. you seemed to blame hollywood. you seemed to blame the media, the video game manufacturers. you did not seem to think that your policies have had anything at all to do with this. o> well, we don't think they eave. >> scheiffer: you see no responsibility. >> you know, we're living in a country, a free country which
Search Results 0 to 3 of about 4 (some duplicates have been removed)